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Powers of the RBI in Case of PSBs

Civil service chronicle subscription The Committee noted that the RBI had stated that some powers available to the RBI under the Banking Regulation Act, 1949 are not available in the case of PSBs. upscpatternThese include: Removing and appointing Chairman and Managing Directors of banksSuperseding the Board of Directors Granting licences The Committee also noted that the RBI can, however, Inspect the bank Consult with the government on appointing senior bank officials, pcs exam and Have a nominee on a PSB's management committee In this regard, the Committee recommended that the government should constitute shankar iasacademy a high powered com­mittee to evaluate the powers of the RBI with respect to PSBs as provided under various statutes.